AN APPRAISAL OF FACTORS MILITATING AGAINST THE EFFECTIVE IMPLEMENTATION OF FORMAL RISK MANAGEMENT TECHNIQUES IN PROJECT DELIVERY
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- Recommended for : Student Researchers
- NGN 3000
EXCERPT FROM THE STUDY
In this study, our focus was to carryout an appraisal of factors militating against the effective implementation of formal risk management techniques in project delivery. The study specifically was aimed at determining the internal barriers that militating against the effective implementation of formal risk management techniques in project delivery, determining the external barriers that militating against the effective implementation of formal risk management techniques in project delivery and proffering solutions to the factors militating against the effective implementation of formal risk management techniques in project delivery.
The study adopted the survey research design and randomly enrolled participants in the study. A total of 203 responses were validated from the enrolled participants where all respondent are active workers in the 5 selected construction firms and stakeholders in Abuja metropolis .
The findings revealed that The internal barriers were found to be cost and time intensiveness, argumentative sessions that create riskier stance including subjective judgment that lacks accurate results while the external barriers were found to be lack of risk assessment training in place, lack of collaboration by parties on a project, low level of risk consciousness, ineffective monitoring by heads of firms and lack of historical data across the project team’s spectrum.
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